CAUGHT BY IRAS: DOCTOR EARNED MILLIONS BUT REPORTED MONTHLY SALARIES OF $5K AND $6K

16/07/2026

The doctor paid himself below market salaries but received huge amounts in dividends and loans. He declared monthly salaries of around $5,000 and $6,000 from his companies, but did not pay any personal tax on additional payouts averaging over $2 million a year.

Source: https://www.straitstimes.com/business/invest/caught-by-iras-doctor-earned-millions-but-reported-monthly-salaries-of-5k-and-6k?utm_source=emarsys&utm_medium=email&utm_campaign=ST_Newsletter_AM&utm_term=Caught+by+IRAS%3A+Doctor+earned+millions+but+reported+monthly+salaries+of+%245k+and+%246k&utm_content=12%2F07%2F2026

Feel free to contact us for professional advice at +65 6636 3691, +65 9326 2271 or info@lnmsolutions.com!

#Singapore #IRAS #TaxCompliance #TaxPlanning #TaxAvoidance #CorporateTax #IncomeTax #BusinessOwners #Accounting #Finance #Audit #CorporateGovernance #SingaporeBusiness #TaxNews #BusinessNews #FinancialCompliance #Entrepreneur #SME #LegalUpdate #TaxLaw #CorporateSG #EconomicTrends #2026Outlook #corporatesolutions #professionalservices #accountingservices #LNMSolutions